Profound Medical Corp. filed SEC Form 8-K: Leadership Update
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 5, 2026, Kris Shah notified the Board of Directors (the “Board”) of Profound Medical Corp. (the “Company”) of his resignation from the Board, effective immediately. This resignation was not the result of any disagreement with the Company.
Effective immediately upon such resignation, the Board appointed Frank Baylis to serve as a director to fill the vacancy created by Mr. Shah’s resignation. Mr. Baylis will serve until the Company’s 2026 annual meeting of stockholders and thereafter until his successor is duly elected and qualified, or until his earlier death, resignation or removal.
There are no arrangements or understandings between Mr. Baylis and any other person pursuant to which he was appointed as a director, and there are no family relationships between Mr. Baylis and any director or executive officer of the Company. There are no transactions to which the Company is a party and in which Mr. Baylis has a material interest that are required to be disclosed under Item 404(a) of Regulation S-K.
Mr. Baylis will be entitled to the compensation paid by the Company to its non-employee directors, including an annual retainer of $50,000 for service on the Board (pro-rated for the portion of the year in which he serves as a member of the Board) and will be eligible to receive an annual equity award.
Mr. Baylis also entered into the Company’s standard form of indemnification agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PROFOUND MEDICAL CORP. | |||
| Date: | March 10, 2026 | By: | /s/ Rashed Dewan |
| Rashed Dewan | |||
| Chief Financial Officer |